ITC a long-term-hold: experts

K.K. Mittal, head-PMS with Globe Capital Market, and Mitesh Panchal, technical analyst with Shah Investors, feel that FMCG major ITC is a stock to hold for the long term. Mittal feels that the hike in excise will affect volumes and profitability of the company, which will be made up by its food and agri business. Mitesh feels the stock may face selling pressure at around Rs 300, but after crossing that hurdle ITC is headed to Rs 360 in nine months' time.